India Become 6th wealthiest Nation with Total Wealth of $8230

India 6th wealthiest country with total wealth of $8,230 billion

India has been ranked the sixth wealthiest country with total wealth of $8,230 billion. The United States topped the chart with the total wealth of $64,584 billion in 2017, says a report by New World Wealth.

Total wealth refers to the private wealth held by all the individuals living in each country/city. It includes all their assets (property, cash, equities, business interests) less any liabilities. The report, however, excludes government funds from its figures.

PTI reports India’s total wealth is more than Australia, France, Canada and Italy while the US and China top the list of the wealthiest countries in the world, according to a report by New World Wealth.

According to a report by New World Wealth, the US is the wealthiest country with total wealth of $64,584 billion, followed by China ($24,803 billion) and Japan ($19,522 billion).

The report further noted that India was the best performing wealth market globally in 2017 and registered a 25 per cent growth within a year. Its total wealth swelled from $6,584 billion in 2016 to $8,230 billion in 2017. During the same period, China’s wealth saw an increase of 22 per cent.

Others in the list include United Kingdom (4th, USD 9,919 billion), Germany (5th, USD 9,660 billion), France (7th, USD 6,649 billion), Canada (8th, USD 6,393 billion), Australia (9th, USD 6,142 billion) and Italy (10th, USD 4,276 billion).

India is also home to 20,730 multi-millionaires, 7th largest in the world. And in terms of resident billionaires, India with 119 such individuals was named among the top three countries globally, after the US and China.

A billionaire is defined as an individuals with USD 1 billion or more in net assets. “In general, it was a good year for all W10 (wealthiest 10) markets, thanks to strong global stock market gains – the MSCI world index was up 23 per cent and the Dow Jones (DJIA) was up 26 per cent during the year (in USD terms),” the report said, adding “wealth held in China, India, USA, Japan and Australia all grew strongly over the past year”.